Emerald Mutual Fund Advisers Trust Sells 311,982 Shares of Utz Brands, Inc. (NYSE:UTZ)

Emerald Mutual Fund Advisers Trust reduced its position in Utz Brands, Inc. (NYSE:UTZ) by 49.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,951 shares of the company’s stock after selling 311,982 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.23% of Utz Brands worth $5,699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC boosted its position in shares of Utz Brands by 64.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 96,992 shares of the company’s stock valued at $1,789,000 after acquiring an additional 38,047 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Utz Brands by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock valued at $1,068,000 after purchasing an additional 2,540 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Utz Brands in the 2nd quarter worth $914,000. Kimelman & Baird LLC bought a new stake in shares of Utz Brands in the 2nd quarter worth about $907,000. Finally, Bahl & Gaynor Inc. raised its position in shares of Utz Brands by 45.1% during the 2nd quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company’s stock valued at $3,993,000 after buying an additional 74,633 shares in the last quarter. 95.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bruce John Lindeman bought 4,000 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the acquisition, the director now owns 42,480 shares of the company’s stock, valued at $684,352.80. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.00% of the stock is currently owned by company insiders.

Utz Brands Stock Performance

UTZ stock opened at $17.35 on Friday. Utz Brands, Inc. has a twelve month low of $11.67 and a twelve month high of $20.04. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -91.32, a PEG ratio of 1.11 and a beta of 1.01. The business’s fifty day simple moving average is $17.31 and its two-hundred day simple moving average is $17.24. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $365.50 million for the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. Analysts predict that Utz Brands, Inc. will post 0.74 earnings per share for the current year.

Utz Brands Dividend Announcement

The company also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a $0.011 dividend. The ex-dividend date was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s dividend payout ratio (DPR) is currently -121.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Barclays lowered their price target on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Utz Brands currently has an average rating of “Moderate Buy” and an average target price of $21.10.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp’s, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.